Paul has the following long-term capital gains and losses for 2019: $62,000 28% gain, $21,000 28% loss,
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Paul has the following long-term capital gains and losses for 2019: $62,000 28% gain, $21,000 28% loss, $18,000 25% gain, and $64,000 0%/15%/20% gain. He also has a $53,000 short-term loss and a $5,000 short-term gain. What is Paul’s AGI from these transactions? If he has a net long-term capital gain, what is its makeup in terms of the alternative tax rates?
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Paul has AGI and net LTCG of 75000 The 62000 28 gain is netted against the 210...View the full answer
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Related Book For
South-Western Federal Taxation 2020 Comprehensive
ISBN: 9780357109144
43rd Edition
Authors: David M. Maloney, William A. Raabe, James C. Young, Annette Nellen, William H. Hoffman
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